Rakoff Sends $1B BofA Fraud Case To Trial

Law360, New York (August 27, 2013, 2:38 PM ET) -- U.S. District Judge Jed S. Rakoff said Tuesday that the federal government's $1 billion case against Bank of America Corp. over alleged false statements it made to Fannie Mae and Freddie Mac could proceed to trial.

Judge Rakoff ruled that the government had raised enough issues in its October complaint against Bank of America and its Countrywide Financial Corp. unit that needed to be resolved through a trial and that at least one of the U.S. Department of Justice's claims should move forward.

“Upon full review...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required